Thomas Company Provided the Following Particulars for Year 2017 Calculate the Average Number of Days That Inventory Was Held

question 27

Multiple Choice

Thomas Company provided the following particulars for year 2017:
$$\begin{array} { | l | l | } \hline \text { Cost of sales } & \$ 1,400,000 \\\hline \text { Beginning inventory } & 340,000 \\\hline \text { Ending inventory } & 350,000 \\\hline\end{array}$$
Calculate the average number of days that inventory was held by Thomas Company during 2017.(Assume 365 days in a year.Round your intermediate calculations and final answer to two decimal places.)

• A) 91.25 days
• B) 179.8 days
• C) 88.59 days
• D) 89.9 days

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Definitions:

Medication

Substances used for medical treatment, especially for the diagnosis, treatment, or prevention of disease.

Analogue Observation

Observation of behaviors in a simulated or structured environment akin to real-life situations, used in psychological assessment and research.

Self-Monitoring

The process of paying close attention to one's own behavior and using these observations to shape behavior according to social cues and personal objectives.

In Vivo Observation

A method used by behaviourally oriented therapists to determine how environmental variables affect a behaviour of concern, in which a clinician may record a running narrative of events, using pencil and paper, video, or still camera, in the client’s everyday environment. More commonly, observations are made by participant observers, key people in the client’s environment, and reported to the clinician. See also analogue observational setting.